$85.9 M

FEIM Mkt cap, 20-Sep-2018

$11 M

Frequency Electronics Revenue Q1, 2019
Frequency Electronics Gross profit (Q1, 2019)4.3 M
Frequency Electronics Gross profit margin (Q1, 2019), %38.8%
Frequency Electronics Net income (Q1, 2019)31 K
Frequency Electronics EBIT (Q1, 2019)85 K
Frequency Electronics Cash, 31-Jul-20182.6 M

Frequency Electronics Revenue

Frequency Electronics revenue was $39.41 m in FY, 2018 which is a 21.7% year over year decrease from the previous period.

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Frequency Electronics Revenue Breakdown

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Frequency Electronics revenue breakdown by business segment: 36.2% from FEI-Zyfer and 63.8% from FEI-NY

Frequency Electronics Income Statement

Annual

USDFY, 2015FY, 2016FY, 2017FY, 2018

Revenue

76.6 m55.4 m50.4 m39.4 m

Revenue growth, %

7%(28%)(9%)(22%)

Cost of goods sold

53 m36.1 m39.1 m34.2 m

Gross profit

23.5 m19.3 m11.2 m5.2 m

Gross profit Margin, %

31%35%22%13%

R&D expense

5.7 m5.4 m6.9 m7 m

General and administrative expense

14.2 m11.4 m11.9 m10.6 m

Operating expense total

19.9 m16.8 m18.8 m17.6 m

EBIT

3.7 m2.5 m(7.5 m)(12.4 m)

EBIT margin, %

5%4%(15%)(31%)

Interest expense

139 k131 k150 k79 k

Investment income

1 m490 k549 k1.3 m

Pre tax profit

4.5 m3.3 m(7 m)(11.3 m)

Income tax expense

1.7 m1.1 m(2.1 m)11.2 m

Net Income

2.8 m1 m(4.8 m)(23.8 m)

Frequency Electronics Balance Sheet

Annual

USDFY, 2015FY, 2016FY, 2017FY, 2018

Cash

7.2 m5.8 m2.2 m7.9 m

Accounts Receivable

9.7 m7.2 m11 m4.3 m

Prepaid Expenses

1.3 m1.1 m1.1 m1.1 m

Inventories

38.2 m36.3 m29.1 m26.2 m

Current Assets

83.6 m85.9 m69.9 m52.1 m

PP&E

12.7 m12.3 m14.8 m14.1 m

Goodwill

617 k617 k617 k617 k

Total Assets

117.8 m122.2 m113.3 m83.6 m

Accounts Payable

1.7 m3.2 m2.4 m1.8 m

Current Liabilities

8.4 m10.3 m8.1 m5.3 m

Long-term debt

6 m6 m

Total Debt

6 m6 m

Total Liabilities

26 m28.8 m24 m20.3 m

Common Stock

9.2 m9.2 m9.2 m9.2 m

Additional Paid-in Capital

54.4 m55.6 m55.8 m56.4 m

Retained Earnings

27.5 m28.5 m23.7 m(65 k)

Total Equity

91.8 m93.4 m89.3 m63.3 m

Debt to Equity Ratio

0.1 x0.1 x

Debt to Assets Ratio

0.1 x0 x

Financial Leverage

1.3 x1.3 x1.3 x1.3 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Cash

4.5 m6.4 m6.1 m5.9 m4.1 m7.1 m4 m4.1 m3.1 m10.9 m11 m7 m2.6 m

Accounts Receivable

14.7 m12.9 m12.2 m10 m12.5 m9.2 m9.5 m9.2 m7.6 m8.1 m7.1 m7.8 m

Prepaid Expenses

1.2 m1.3 m2.1 m1.2 m1.3 m1.1 m1.2 m1.2 m1.2 m890 k1.2 m1.1 m

Inventories

42.8 m41.3 m41 m39.1 m38.8 m40.7 m42.6 m41.8 m41.2 m30.5 m31.2 m25.9 m26.3 m

Current Assets

92.1 m90.2 m87.3 m84.4 m83.9 m85.1 m84.7 m81.8 m75.7 m70.5 m69.5 m62.8 m52.1 m

PP&E

12 m13.2 m13.1 m12.7 m12.8 m12.4 m13.4 m14.1 m14.8 m14.6 m14.3 m13.9 m

Goodwill

667 k644 k621 k617 k617 k617 k617 k617 k614 k617 k617 k617 k

Total Assets

124.5 m124 m120.8 m119.1 m118.8 m119.8 m120.5 m118.3 m112.8 m114.1 m112.7 m104.3 m83.5 m

Accounts Payable

3.3 m3.8 m3.5 m883 k1.2 m2.4 m4 m2.4 m2.5 m2.7 m2.7 m2.9 m1.3 m

Short-term debt

280 k

Current Liabilities

11 m10.3 m9.1 m7.8 m7.1 m8.6 m9.1 m6.7 m6.4 m8.1 m7.6 m8.9 m4.4 m

Long-term debt

12.4 m11.4 m8.4 m6 m6 m6 m6 m6 m

Total Debt

12.4 m11.4 m8.4 m6 m6 m6 m6 m6.3 m

Total Liabilities

34.8 m33.1 m29.1 m25.6 m25 m26.6 m27.9 m25.5 m19.7 m24.2 m23.8 m25.7 m19.6 m

Common Stock

9.2 m9.2 m9.2 m9.2 m9.2 m9.2 m9.2 m9.2 m9.2 m9.2 m9.2 m9.2 m

Additional Paid-in Capital

53.5 m53.9 m54.2 m54.7 m55 m55.2 m55.8 m56 m56.2 m56 m56.1 m56.3 m56.6 m

Retained Earnings

25.4 m26.7 m27.6 m28.4 m28.4 m28.6 m27.8 m26.8 m27.1 m24.3 m22.8 m12.4 m449 k

Total Equity

89.8 m90.9 m91.7 m93.5 m93.8 m93.2 m92.7 m92.7 m93.1 m89.9 m88.9 m78.7 m64 m

Debt to Equity Ratio

0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0 x0.1 x

Financial Leverage

1.4 x1.4 x1.3 x1.3 x1.3 x1.3 x1.3 x1.3 x1.2 x1.3 x1.3 x1.3 x1.3 x

Frequency Electronics Cash Flow

Annual

USDFY, 2015FY, 2016FY, 2017FY, 2018

Net Income

2.8 m1 m(4.8 m)(23.8 m)

Depreciation and Amortization

2.9 m2.5 m2.6 m2.5 m

Accounts Receivable

(3.2 m)(911 k)(3.6 m)5.9 m

Inventories

1.3 m(3.7 m)2.2 m(2.1 m)

Accounts Payable

25 k1.2 m(746 k)379 k

Cash From Operating Activities

1.9 m2.9 m3.9 m4.5 m

Cash From Investing Activities

1.2 m(3.5 m)(1.5 m)341 k

Short-term Borrowings

(4.1 m)(6 m)

Cash From Financing Activities

(3.9 m)141 k(6.7 m)

Net Change in Cash

(476 k)(1.1 m)(3.3 m)5.1 m

Interest Paid

140 k128 k146 k79 k

Income Taxes Paid

1.9 m1.3 m335 k325 k

Free Cash Flow

(2.3 m)(340 k)(1.3 m)3.1 m

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income

719 k1.3 m878 k891 k822 k1.1 m(706 k)(1.7 m)(1.4 m)614 k(867 k)(11.3 m)31 k

Cash From Operating Activities

(5.6 m)(2.5 m)(791 k)(1.8 m)(2.9 m)2 m(571 k)(2.5 m)2.6 m3.2 m2.8 m4 m(3.6 m)

Purchases of PP&E

(1.2 m)(3.1 m)(3.6 m)(606 k)(1.3 m)1.6 m(1.1 m)(2.4 m)(3.8 m)(450 k)(883 k)(1 m)

Cash From Investing Activities

59 k(408 k)608 k(65 k)(767 k)(1.8 m)(1.1 m)(1.4 m)53 k5.8 m5.6 m440 k(1.5 m)

Short-term Borrowings

(6 m)

Cash From Financing Activities

2.3 m1.3 m(1.7 m)8 k9 k8 k1 k305 k(6 m)1 k1 k1 k

Net Change in Cash

(3.3 m)(1.6 m)(1.8 m)(1.3 m)(3.1 m)(143 k)(2.1 m)(2 m)(3 m)9.3 m9.1 m5.2 m

Interest Paid

34 k82 k114 k24 k56 k93 k38 k76 k115 k17 k41 k61 k18 k

Income Taxes Paid

41 k490 k1.7 m230 k230 k1.2 m70 k335 k335 k325 k325 k

Frequency Electronics Ratios

USDY, 2018

Financial Leverage

1.3 x
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Frequency Electronics Operating Metrics

Frequency Electronics's Backlog was reported to be $30m in FY, 2018.
FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018FY, 2018

Backlog

$37 m$27 m$23 m$22 m$32 m$36 m$39 m$42 m$28 m$23 m$21 m$16 m$30 m

Locations

6 6 4 4
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